Martens Commercial Group’s Grubb & Ellis affiliation in flux

WICHITA — Steve Martens soon may have to order new stationary for his Grubb & Ellis/Martens Commercial Group. Then again, maybe not.

Martens’ company is an affiliate of the California-based Grubb & Ellis Co., which filed for bankruptcy Monday and is working on a deal to sell to BGC Partners.

That’s the parent company of Grubb & Ellis rival Newmark Knight Frank.

“The indication is that the Grubb name and brand remains in the market and that the new buyer is very interested in retaining the affiliated members of this new entity,” Martens says.

That doesn’t necessarily mean he’ll want to remain with them, though.

“We have been researching the … alternatives but no decisions have been made.”

At one point, Grubb & Ellis had almost 60 affiliates. Now, it has about 35.

Martens says he looks forward to seeing the business plan for the new entity and will then make a decision.

“Obviously, these are big changes,” he says, “and what the end result of … those big changes will be, we’ll have to find out.”